Indian-British high-risk payment veteran Ruchi Rathor has been blazing a trail through the high-risk merchant segment for many years with her many companies. Millions are missing in the UK insolvency surrounding iPayTotal, which she co-founded. Most recently, Rathor has increasingly focused on crypto payments with Payomatix, Kryptova, or BitMatix. Crypto revenues are taxable in India (and other countries as well). Allegedly, Indian authorities are currently investigating possible tax evasion.
Whistleblowers tell FinTelegram that Indian authorities are investigating the crypto revenues of the companies around Ruchi Rathor and want to know details. In addition, they also want to investigate how Rathor could provide financial services without the required license. It will be interesting to see how these investigations turn out. Maybe everything will resolve satisfactorily for Rathor.
However, we still advise merchants to be very cautious and to avoid Rathor’s companies as high-risk payment processors.
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If you have any information about Ruchi Rathor and her group of companies, please let us know via our whistleblower system, Whistle42.
